IFRS Foundation releases 2024 taxonomy

Posted on March 29, 2024 by Editor

The IFRS Foundation has published the 2024 IFRS Accounting Taxonomy, facilitating the digital reporting of financial information aligned with IFRS Accounting Standards. This release enables companies to efficiently tag disclosures, enhancing accessibility for investors.

Based on IFRS Accounting Standards effective in January 2024, the taxonomy includes all standards issued up until the start of the year, including those not yet in force. Subscribers can access the 2024 Issued Standards layer in the IFRS Accounting Standards Navigator.

Key updates address recent amendments and new requirements, including those related to International Tax Reform, Supplier Finance Arrangements, and Lack of Exchangeability. Additionally, the taxonomy reflects some general improvements and technological updates. Amongst them is the use of Extensible Enumerations 2.0, as well as a range of boolean indicators. These features assist users with screening and filtering, clarify and help categorise certain disclosures.

Read more and find the updated taxonomy here.

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